Nasdaq Fixes FIX Ports and Waives Some Trading Fees
Published Date: 11/24/2025
Notice
Summary
Nasdaq BX is updating its rules to start charging fees for new CORE FIX order entry ports and disaster recovery services, while also waiving testing fees for these new ports. They’re removing old temporary fee waivers related to OUCH 5.0, so some fees are back in play. These changes affect traders and firms using these ports and take effect immediately, meaning some will see new charges soon.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
New CORE FIX Port Monthly Fees
Nasdaq BX will charge $500 per CORE FIX order entry port each month and a $25/month disaster recovery port fee for CORE FIX. These fees match fees the Exchange charges for similar protocols.
Removal of OUCH Temporary Waiver
Nasdaq BX is removing language that had provided a temporary production port fee waiver for OUCH 5.0; the three-month OUCH waiver that began in November 2022 has lapsed. The removal means the temporary waiver language is no longer in the rulebook.
30-Day Production Port Fee Waiver
BX will waive the CORE FIX production port fee for 30 days for up to five newly added CORE FIX ports per user. That waiver is available only during a three-month window beginning on the date CORE FIX first becomes available (the Exchange will announce that date).
Testing Facility Fee 30-Day Waiver
BX will waive the $300 Testing Facility fee for 30 days for up to five newly added CORE FIX Testing Facility ports per user. The waiver is offered only during a three-month window beginning on the date CORE FIX first becomes available, as announced by the Exchange.
Prorated First Month and Cancellation Pay Rule
The fee schedule includes a footnote that fees are prorated for the first month of service, and if you cancel, you must pay for service for the remainder of the month even if it was your first month. This affects how initial and cancellation charges are calculated.
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